<PAGE>
MASSACHUSETTS INVESTORS TRUST MFS ALABAMA MUNICIPAL BOND FUND
MASSACHUSETTS INVESTORS GROWTH STOCK FUND MFS ARKANSAS MUNICIPAL BOND FUND
MFS GOVERNMENT MORTGAGE FUND MFS CALIFORNIA MUNICIPAL BOND FUND
MFS OTC FUND MFS FLORIDA MUNICIPAL BOND FUND
MFS GROWTH OPPORTUNITIES FUND MFS GEORGIA MUNICIPAL BOND FUND
MFS CASH RESERVE FUND MFS LOUISIANA MUNICIPAL BOND FUND
MFS CAPITAL GROWTH FUND MFS MARYLAND MUNICIPAL BOND FUND
MFS INTERMEDIATE INCOME FUND MFS MASSACHUSETTS MUNICIPAL BOND FUND
MFS GOLD & NATURAL RESOURCES FUND MFS MISSISSIPPI MUNICIPAL BOND FUND
MFS MANAGED SECTORS FUND MFS NEW YORK MUNICIPAL BOND FUND
MFS VALUE FUND MFS NORTH CAROLINA MUNICIPAL BOND FUND
MFS UTILITIES FUND MFS PENNSYLVANIA MUNICIPAL BOND FUND
MFS WORLD EQUITY FUND MFS SOUTH CAROLINA MUNICIPAL BOND FUND
MFS WORLD TOTAL RETURN FUND MFS TENNESSEE MUNICIPAL BOND FUND
MFS BOND FUND MFS TEXAS MUNICIPAL BOND FUND
MFS LIMITED MATURITY FUND MFS VIRGINIA MUNICIPAL BOND FUND
MFS GOVERNMENT LIMITED MATURITY FUND MFS WASHINGTON MUNICIPAL BOND FUND
MFS GOVERNMENT SECURITIES FUND MFS WEST VIRGINIA MUNICIPAL BOND FUND
MFS HIGH INCOME FUND MFS MUNICIPAL INCOME FUND
MFS WORLD GOVERNMENTS FUND MFS STRATEGIC INCOME FUND
MFS WORLD GROWTH FUND MFS TOTAL RETURN FUND
MFS WORLD ASSET ALLOCATION FUND MFS RESEARCH FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL
GROWTH FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL
GROWTH AND INCOME FUND
MFS/FOREIGN & COLONIAL EMERGING MARKETS
EQUITY FUND
SUPPLEMENT TO THE CURRENT PROSPECTUS
During the period from January 2, 1996 through April 15, 1996 (unless extended
by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will pay A. G.
Edwards and Sons, Inc. ("A. G. Edwards") 100% of the applicable sales charge on
sales of Class A shares of each of the funds listed above (the "Funds") sold by
such dealer to shareholders purchasing such Funds through new MFS Individual
Retirement Accounts (excluding SEP-IRAs)("Eligible IRAs"). In addition, if a
sale of Class A and Class B shares of the Funds by a registered representative
of A. G. Edwards to a shareholder purchasing such Funds through an Eligible IRA
during the Sales Period is $20,000 or more, MFD will pay A. G. Edwards an
additional commission equal to 0.50% of the public offering price of such
shares.
Although municipal bond funds, such as the various MFS single-state and other
municipal bond funds listed above, are generally available as an investment
choice for an IRA, they may not be suitable for inclusion in an IRA due to their
tax-exempt nature. A shareholder should consult his or her financial or tax
adviser regarding any such investment.
THE DATE OF THIS SUPPLEMENT IS JANUARY 1, 1996.
